FOR SALE
Expression of Interest

112-116 Bloomfield Street And 118 Queen Street
Cleveland QLD 4163

Bedrooms: -
Bathrooms: -
Car spaces: -
Floor area: 706m2
Land area: 1632m2
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1632sqm Prime Redevelopment Site in Cleveland Central

Raine & Horne Commercial are very proud to present to the market for the first time this prominent freehold corner site in Cleveland central. The E.C. Dean Building located on the corner of Bloomfield and Queen Streets has multiple retail tenancies on the ground floor and office suites on the first floor. Adjoining the E.C. Dean Building is 118 Queen Street, which has an older style residential dwelling on the site. Both properties are fully tenanted and currently achieving an annual gross rental income of $251,777.
This is a unique opportunity to purchase a prime redevelopment site with strong holding income in the heart of Cleveland's central business district. Both properties have principal centre zoning offering a total site coverage of 1,632sqm with approximately 20 metre frontage to Bloomfield Street and 60 metre frontage to Queen Street.
Cleveland is widely regarded as the heart of Redland City and is undergoing major transformational change to accommodate a growing population. More facilities, infrastructure and services are required to meet future demand. Now is the time to secure this prime corner site and be an integral part of the future redevelopment of Cleveland Centre.
This outstanding asset is offered for sale by Expression of Interest with a closing date of 5pm on Friday 11 October 2024 (if not sold prior).
For further information please contact Exclusive Agents, Colin Tucker and Nick Comino. Information Memorandum is available upon request.

Property Details for 112-116 Bloomfield Street And 118 Queen Street, Cleveland

Building Type
Commercial
Floor Size
706m2
Land Size
1632m2

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About Cleveland 4163

The size of Cleveland is approximately 11.7 square kilometres. It has 55 parks covering nearly 19.2% of total area. The population of Cleveland in 2011 was 14,413 people. By 2016 the population was 14,791 showing a population growth of 2.6% in the area during that time. The predominant age group in Cleveland is 50-59 years. Households in Cleveland are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Cleveland work in a professional occupation. In 2011, 63% of the homes in Cleveland were owner-occupied compared with 62.2% in 2016.

Cleveland has 8,902 properties. Over the last 5 years, Houses in Cleveland have seen a 77.94% increase in median value, while Units have seen a 77.97% increase. As at 31 August 2024:

  • The median value for Houses in Cleveland is $1,146,342 while the median value for Units is $717,133.
  • Houses have a median rent of $700 while Units have a median rent of $625.
There are currently 102 properties listed for sale, and 30 properties listed for rent in Cleveland on OnTheHouse. According to CoreLogic's data, 425 properties were sold in the past 12 months in Cleveland.

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Colin Tucker
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Nick Comino
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